First Gold Exploration Inc.
TSX VENTURE : EFG
FRANKFURT : F12

First Gold Exploration Inc.

April 29, 2009 13:03 ET

First Gold Reduces the Exercise Price of its Warrants

LAVAL, QUEBEC--(Marketwire - April 29, 2009) - First Gold Exploration Inc. (the "Company" or "First Gold") (TSX VENTURE:EFG)(FRANKFURT:F12) proposes to re-price the exercise price of its warrants, subject to the Exchange approval, as following:



--------------------------------------------------------------------------
Actual Actual Modified Modified
Number of Exercise Expiry Exercise Expiry
warrants price Date price Date
--------------------------------------------------------------------------
952,380 $0.30 - 12 first month
$0.40 - 12 December 7th, $0.22 December 7th,
subsequent month 2009 2009
--------------------------------------------------------------------------
1,281,000 $0.40 June 10th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
200,000 $0.35 - 12 first month
$0.45 - 12 June 10th, $0.28 July 31st,
subsequent month 2010 2010
--------------------------------------------------------------------------
994,000 $0.40 July 8th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
45,500 $0.40 July 8th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
348,000 $0.35 - 12 first month
$0.45 - 12 July 8th, $0.28 July 31st,
subsequent month 2010 2010
--------------------------------------------------------------------------
55,000 $0.40 July 8th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
390,625 $0,40 July 8th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
630,000 $0.40 July 16th, $0.28 July 31st,
2009 2010
--------------------------------------------------------------------------
300,000 $0.35 - 12 first month
$0.45 - 12 July 16th, $0.28 July 31st,
subsequent month 2010 2010
--------------------------------------------------------------------------


The Company has reduced, for its shareholders, the exercise price of its warrants at the lowest possible price allowed by the Exchange.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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